Pramod Rao, Executive Director of SEBI, has been appointed by the Finance Ministry to the board of the International Financial Services Centre Authority (IFSCA).
Pramod Rao, who assumed the role of Executive Director at SEBI on July 15, 2022, has been appointed by the Finance Ministry as a Member of the Board of International Financial Services Centre Authority (IFSCA). This appointment comes as a replacement for Sujit Prasad, who represented SEBI on the IFSCA Board since July 2020.
Before joining SEBI, Rao held the prestigious position of Group General Counsel at ICICI Bank, where he provided strategic oversight to the legal function for the entire ICICI Group. He is an alumnus of the National Law School of India University. Additionally, Rao served as a Board Member of ICICI Securities Ltd, ICICI Prudential Trust Ltd, and ICICI Trusteeship Services Ltd in the past.
About the IFSCA
The International Financial Services Centres Authority (IFSCA) is an authoritative body established by the International Financial Services Centres Authority Act, 2019. Its primary objective is to develop and regulate financial products, financial services, and financial institutions within the International Financial Services Centres (IFSC). Currently, the operational IFSC in India is located in GIFT City, Gujarat.
In recent years, India has been actively working towards attracting foreign businesses to its international financial services center. To enhance the appeal of this IFSC for foreign enterprises, various fiscal incentives have been provided to participants in the financial services industry. These efforts aim to promote the growth and competitiveness of the IFSC, positioning it as an attractive destination for global businesses.
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